DAILY OUTLOOK
Indonesia’s 10-year SUN yield edged down 0.2bps to 7.157%, while the US 10-year Treasury fell 9.2bps to 4.930%, widening the calculated SUN-UST spread to 222.7bps. JISDOR weakened 41 points to IDR 17,753/USD, showing rupiah pressure persisted despite the Treasury rally and lower oil prices. WTI eased to USD 101.3/bbl, offering only limited relief from imported-inflation risks, while the ICBI edged higher as domestic demand remained selective. We expect the 10-year SUN at 7.12%-7.22% today with a cautious-to-neutral bias. Prefer short-to-medium duration, particularly FR0094, which remains Cheap at 7.17% YTM, while avoiding aggressive long-end exposure until global rate expectations, oil prices and currency volatility stabilise.
NEWS HIGHLIGHTS
- Global – BOE Pauses Long-Dated Gilt Sales
- Global – BOJ Faces Tougher Yen Test
- Global – Emerging Bank Monitor Covers 142
- Global – Tariff Plan Delayed Past Summit
- Global – Treasuries Rally As Oil Retreats
- Bond – Panda Bond Plan Stays On
- Bond – SR025 Raises IDR 29.77tn
- ADHI – Cut To Selective Default
- ASBI – Downgraded To BBB+(idn)
- BYAN – Outlook Cut To Negative
Regards, Aldiracita Research
